What occurs when people's wants are unlimited but resources are scarce?
A) Only rich people get everything they want.
B) People must make choices.
C) More services are available than goods.
D) More goods are available than services.

Question

What occurs when people's wants are unlimited but resources are scarce?  
A) Only rich people get everything they want. 
B) People must make choices. 
C) More services are available than goods. 
D) More goods are available than services.

Quizplus · Accepted Answer

When people's wants are unlimited but resources are scarce, they must make choices. This is because they cannot have everything they want, and must prioritize and allocate resources to fulfill their most important needs and wants. Option A is incorrect because it ignores the fact that even rich people cannot have everything they want if resources are scarce. Options C and D are incorrect because the availability of services and goods is not determined by the scarcity of resources alone, but also by factors such as demand and production capacity.

What Occurs When People's Wants Are Unlimited but Resources Are